🚨 WEAK U.S. PAYROLLS BOOST CRYPTO
The U.S. labor market delivered a much weaker-than-expected figure in September.
🇺🇸 Payrolls: +29,000 jobs
📉 Forecast: ~90,000
👷 Unemployment: 4.2%
💵 Wages: +3.0% YoY
In addition, July and August figures were revised down by a total of 60,000 jobs.
The result reinforces the view that the labor market is slowing, reducing the need for the Federal Reserve to maintain an even more restrictive stance.
📉 Less pressure for interest rate hikes
💵 Treasury yields under pressure
🪙 Potentially more favorable conditions for Bitcoin and gold
Bitcoin reacted positively to the report, rising more than 2% in the 24 hours following the release.
The key factor now is inflation: if the labor market continues to cool without a renewed acceleration in prices, there will be more room for a less restrictive monetary policy.
$RENDER
The U.S. labor market delivered a much weaker-than-expected figure in September.
🇺🇸 Payrolls: +29,000 jobs
📉 Forecast: ~90,000
👷 Unemployment: 4.2%
💵 Wages: +3.0% YoY
In addition, July and August figures were revised down by a total of 60,000 jobs.
The result reinforces the view that the labor market is slowing, reducing the need for the Federal Reserve to maintain an even more restrictive stance.
📉 Less pressure for interest rate hikes
💵 Treasury yields under pressure
🪙 Potentially more favorable conditions for Bitcoin and gold
Bitcoin reacted positively to the report, rising more than 2% in the 24 hours following the release.
The key factor now is inflation: if the labor market continues to cool without a renewed acceleration in prices, there will be more room for a less restrictive monetary policy.
$RENDER
